Following approval from China Insurance Regulatory Commission, the commercial property insurer opens a representative office in Beijing, China
Commercial and industrial property insurer FM Global has opened a representative office in Beijing, China following recent approval from the China Insurance Regulatory Commission. The approval (granted to Factory Mutual Insurance Company, which does business as FM Global) marks the first step in the country’s process for FM Global to establish a licensed insurance company in China.
Allan Palmer, operations vice president, FM Global, will serve as the chief representative for the Beijing office and be the liaison between the China marketplace and the company’s headquarters in Johnston, Rhode Island, USA.
FM Global said its growth has continued to follow that of its multinational clients, who comprise organisations operating in around 130 countries.
The company is rated A+ (Superior) by A.M. Best and ‘AA’ (Very Strong) by Fitch Ratings.